Thanks to a big surge in the last two days of the week, the US Stock market posted a fresh set of all-time highs. Anyone who followed the old advice to sell in May by exiting their long stock positions during the May 1st dip has already left nearly 2% on the table… the old wisdom isn’t necessarily always true. The week also finished off with a huge surge in copper, bringing a sharp end to the long-term downtrend we’ve been watching there for a while. Here’s hoping the shorts covered their positions before the rally ripped them too badly. If not, we have some distractions to console them this weekend: our weekend reads.
- Dow 15,000 took about 10 years longer than expected by some (USA Today)
- On the day of stock records, legendary stock trader Jeffrey Vinik throws in the towel – returning billions to his hedge fund investors (Bloomberg)
- Chinese Scientists Flirt with Flu Disaster (The Independent)
- Kentucky Derby – Millionaires need not apply (CNBC)
- A giant inflatable duck in Hong Kong? A giant inflatable duck in Hong Kong (Guardian)
And in honor of May the Fourth…
